Differences in a Will versus a Trust
A will is a legal instrument that goes into effect upon your death that directs where property in your name , assets and benefits are to be distributed and it appoints a legal representative to carry out your wishes. Property held in joint tenancy or in a trust fall outside of a will and can cause legal issues to your estate.
A Trust is effective immediately and can be used to distribute property prior to death. A trust is a legal arrangement through which property and assets are held in legal title. Beneficiaries are established in the trust that can provide income from the trust and or distribution upon death.